IRA & CHIPS excise tax
09.23.2022 | Duration: 8:43
This fourth installment in our series on the new IRA and CHIPS legislation covers accounting for the new excise tax.
Podcast overview
Ashby Corum, 乐鱼（Leyu）体育官网 Washington National Tax partner, and Matt Drucker, 乐鱼（Leyu）体育官网 Department of Professional Practice partner, join host John Barbagallo in another installment of our podcast series on the accounting implications of the recently enacted IRA and CHIPS legislation 鈥� with a focus on accounting for the new excise tax.聽
Applicability
- All companies conducting share repurchases subject to the new excise tax created by the Inflation Reduction Act.
Relevant dates
- The new excise tax applies to relevant share repurchases after December 31, 2022.
Podcast contents
- 00:30聽- Introduction
- 00:55聽- Excise tax overview & applicability
- 01:50聽- Transactions covered by the excise tax
- 02:55聽- Whether the excise tax is an income tax
- 03:25聽- Excise tax accounting model
- 05:25聽- Accounting for stock issuances after stock repurchases
- 06:55聽- Accounting for stock repurchases after stock issuances
Explore more
Insight
President signs budget reconciliation legislation; 乐鱼（Leyu）体育官网鈥檚 report on tax law changes
Analysis and observations: Tax law changes in the 鈥淚nflation Reduction Act of 2022鈥�
Resource
IRA and CHIPS: Tax considerations
Our impressions on the accounting for key provisions in the recently enacted tax legislation.
Resource
Podcast series: IRA & CHIPS legislation
乐鱼（Leyu）体育官网 professionals explore the newly enacted IRA & CHIPS legislature
Meet our team
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